19 January 2022 - - US-based biopharmaceutical company Alterome Therapeutics, Inc has closed a USD 64m series A financing, the company said.

The financing was led by OrbiMed, with participation from Nextech Invest, Vida Ventures, Boxer Capital, and others.

Alterome Therapeutics was co-founded by Eric Murphy, Ph.D., and Ryan Corcoran, M.D., Ph.D.

Dr. Murphy, an industry veteran with 20 years in oncology research and drug discovery, will serve as the company's chief executive and chief scientific officer.

He most recently served as co-founder and chief scientific officer of Kinnate Biopharma.

Dr. Corcoran, Scientific director of the Termeer Center for Targeted Therapy and director of the Gastrointestinal Cancer Center Program at the Massachusetts General Hospital Cancer Center, will serve on the board of directors and scientific advisory board.

In conjunction with the financing, Carl Gordon, Ph.D., CFA, Managing Partner at OrbiMed, Thilo Schroeder, Ph.D., Partner at Nextech, and Arjun Goyal, M.D., M.Phil, Co-Founder and Managing director at Vida Ventures, will join the board of directors.

Alterome Therapeutics, Inc. is a precision oncology biotech developing alteration-specific therapeutics to address high value and validated oncogenic drivers.

The company will be led by seasoned R and D leaders with a history of developing marketed oncology small molecule drugs.